Hello mcstieg,
At first you need to use chunk.buildModel(...) with the high number of polygons, then duplicate the model:
old_model = chunk.model
new_model = chunk.model.copy()
it will automatically set the duplicated model active. Then decimate it:
chunk.decimateModel(...)
To switch back to the high poly model:
chunk.model = old_model
or
chunk.model = chunk.models[0] #or any other index in range.